Clarius Group LLC Trims Stake in HP Inc. (NYSE:HPQ)

Clarius Group LLC cut its stake in shares of HP Inc. (NYSE:HPQ) by 9.6% during the 3rd quarter, Holdings Channel.com reports. The firm owned 8,964 shares of the computer maker’s stock after selling 953 shares during the quarter. Clarius Group LLC’s holdings in HP were worth $320,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of HPQ. Sawyer & Company Inc lifted its position in shares of HP by 900.0% during the 1st quarter. Sawyer & Company Inc now owns 1,000 shares of the computer maker’s stock valued at $30,000 after buying an additional 900 shares in the last quarter. Rise Advisors LLC lifted its holdings in HP by 377.9% during the first quarter. Rise Advisors LLC now owns 1,061 shares of the computer maker’s stock valued at $32,000 after purchasing an additional 839 shares in the last quarter. Triad Wealth Partners LLC bought a new position in shares of HP in the second quarter worth approximately $33,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of HP in the second quarter worth $34,000. Finally, DecisionPoint Financial LLC bought a new stake in shares of HP during the 2nd quarter valued at $43,000. Institutional investors own 77.53% of the company’s stock.

Insider Transactions at HP

In related news, CEO Enrique Lores sold 211,501 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $33.16, for a total transaction of $7,013,373.16. Following the sale, the chief executive officer now owns 3 shares in the company, valued at approximately $99.48. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.41% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on HPQ shares. UBS Group increased their price target on HP from $34.00 to $37.00 and gave the stock a “neutral” rating in a research note on Thursday, August 29th. JPMorgan Chase & Co. increased their target price on HP from $38.00 to $42.00 and gave the stock an “overweight” rating in a research report on Friday, August 23rd. Barclays lowered their price target on HP from $33.00 to $32.00 and set an “equal weight” rating on the stock in a report on Thursday, August 29th. Bank of America lowered shares of HP from a “buy” rating to a “neutral” rating and set a $37.00 price objective for the company. in a report on Friday, September 27th. Finally, Morgan Stanley lowered their target price on shares of HP from $37.00 to $36.00 and set an “equal weight” rating on the stock in a report on Thursday, August 29th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $35.55.

HP Stock Performance

Shares of HPQ opened at $37.01 on Friday. HP Inc. has a fifty-two week low of $25.67 and a fifty-two week high of $39.52. The company’s fifty day moving average is $34.91 and its 200 day moving average is $33.63. The stock has a market capitalization of $36.22 billion, a PE ratio of 12.50, a P/E/G ratio of 2.67 and a beta of 1.07.

HP (NYSE:HPQ) last announced its earnings results on Wednesday, August 28th. The computer maker reported $0.83 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by ($0.03). HP had a net margin of 5.33% and a negative return on equity of 266.37%. The business had revenue of $13.52 billion for the quarter, compared to analysts’ expectations of $13.37 billion. During the same quarter in the prior year, the company posted $0.86 earnings per share. The firm’s quarterly revenue was up 2.4% compared to the same quarter last year. As a group, research analysts forecast that HP Inc. will post 3.39 earnings per share for the current year.

HP announced that its Board of Directors has initiated a stock buyback program on Wednesday, August 28th that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the computer maker to reacquire up to 28.9% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.

HP Profile

HP Inc provides products, technologies, software, solutions, and services to individual consumers, small- and medium-sized businesses, and large enterprises, including customers in the government, health, and education sectors worldwide. It operates through Personal Systems and Printing segments. The Personal Systems segment offers commercial personal computers (PCs), consumer PCs, workstations, thin clients, commercial tablets and mobility devices, retail point-of-sale systems, displays and other related accessories, software, support, and services for the commercial and consumer markets.